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Purchase insurance for your property, including coverage that protects against flood damage. for safety hazards. Have accredited animal authorities inspect the premises for stray animals, venomous snakes and so on. Repair damaged sewages as soon as possible to avert health hazards. Pre-Storm Preparation.
Not long ago, risk managers concerned themselves mainly with hazards such as fires and floods; or in the financial sector, loan defaults (credit risk). Organizations typically bought insurance to avoid the losses these risks could cause, thus “transferring” the risk to the insurance company.
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